Thank you for sharing!

Your article was successfully shared with the contacts you provided.

CHICAGO-Developer Mesirow Financial Real estate, based here, is nearing completion on its $420-million 353 N. Clark. Now 81% preleased, the 1.2-million-square-foot office tower is expected to deliver in October. Jones Lang LaSalle was just appointed as property manager for the 45-story building, augmenting the firm’s existing role as leasing manager and previous work securing the project’s $420 million in financing in 2006.

“We’ll have parking, a health club and a shuttle bus service running continually to get people to different transportation portals, and one of the cool things is that we’ll have an ID card that gets you in the building, can purchase food at the cafe, and will get you on the shuttle bus,” says general manager Richard Cooke, who will oversee the property management assignment with the help of assistant general manager Mason Taylor. “The building is really striving to have a great level of service and using technology to provide that service to our tenants. All of the building’s systems – from security to the key card to the cafe to work order systems – will be fully integrated, and it’s beyond anything I’ve ever seen at any other building.”

The tower will be anchored by law firm Jenner & Block, which took 411,000 square feet and Mesirow Financial, with 335,000 square feet. Other large tenants include executive search firm Spencer Stuart, in 113,000 square feet, and energy services company E.On, with 28,400 square feet. Asking lease rates at the building range from $28 to $32 per square foot net, and Steve Smith and Gary Kostecki of JLL head up leasing there.

“The building is going to be LEED-certified, and Jenner and Mesirow have also committed to getting LEED certification for their spaces,” Cooke tells GlobeSt.com. Designed by Lohan Anderson and A. Epstein & Sons International, the building has been pre-certified silver under LEED-CD, and plans to pursue gold certification upon completion. The tower offers green features including a green roof.

The class A building will also feature two white tablecloth restaurants, on-site catering facilities and concierge services. The property is located in the River North submarket, where overall occupancy for class A space is around 75%, according to JLL’s mid-year office market report. Average asking lease rates for Class A space in the submarket are around $33 per square foot, according to JLL’s research.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.